Survey reveals the ‘Harrods Effect’
A new report from Harrods Estates has revealed a property price plateau centred on the famous department store.
State-of-the-art computer modeling was used to produce a hot spot map of sales values and volumes within various walking times from Harrods, and the results showed significant jumps in property value the closer a resident lives to the Knightsbridge store.
The average value for all residential properties sold between 2011 and 2014 within a five-minute (360m) walk of Harrods was £2,149 per sqft - a 133% price premium over the London average (£921). Within a five- to ten-minute walk the average value was £1,969 per sqft. An apartment sold within a five minute walk of Harrods attracts a 60% price premium over those 15-20 minutes away.
© 2025 News On The Block. All rights reserved.
News on the Block is a trading name of Premier Property Media Ltd.